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Companies Bill [Lords]

Given the lack of time, due not least to the way in which today has been arranged, I will simply say that we will seek to press amendment No. 402 to a Division and move directly to speak to it. The amendment allows directors to exercise their subjective judgment about whether a situation is likely to give rise to a conflict. We should be showing UK company directors that we have faith in their judgment—a course that the Government do not seem keen to follow in this instance. The Government said in Committee that the amendment watered down the obligations on directors and endangered members, but it should be seen as a flexible, forward-looking approach that benefits companies.